Helmerich & Payne Inc

HP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$73.00	Pzwr	Nftltlf

Helmerich & Payne Continues to Recover in Line with North American Drilling Market

Katherine Olexa

Feb 2, 2022

Business Strategy and Outlook

Helmerich & Payne has maintained the dominant market share in U.S. horizontal land rigs (26%) for over a decade. H&P seeks to differentiate itself in the commoditized drilling services market by staying at the forefront of technological innovation in the space. It was an early adopter of super-spec rigs (AC drive, minimum 1,500 horsepower drawworks, minimum of 750,000 lbs. hookload rating, 7,500 psi mud circulating system, and multiple-well pad capability), which now compose about 84% of its operating fleet and about 30% of total super-spec rigs available in the United States.

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